Connect with us

Technology

ANTERIX INC. REPORTS SECOND QUARTER FISCAL YEAR 2025 RESULTS

Published

on

WOODLAND PARK, N.J., Nov. 13, 2024 /PRNewswire/ — Anterix (NASDAQ: ATEX) today announced its second quarter fiscal 2025 results and filed its Form 10-Q for the three and six months ended September 30, 2024. The Company also issued an update on its Demonstrated Intent metric which can be found on Anterix’s website at https://www.investors.anterix.com/Q22025/.

“Our results in the second quarter of fiscal 2025 reflect Anterix’s strong market positioning and continued progress in our journey to drive 900 MHz private wireless broadband networks throughout the utility sector. In my first month as President and CEO at Anterix, I have been impressed by our team and the upcoming opportunities for our group. I see an incredible runway for Anterix to grow, with the value of private broadband networks to utilities being stronger than I have ever seen across my 30-year career,” commented Scott Lang, Anterix President and CEO.

“Looking ahead, I am extremely encouraged by our active customer pipeline and the discussions ongoing with prospective clients. In the coming months, we plan to have a dedicated focus on a number of key objectives from enhancing pipeline relationships and innovating our customer approach. The future is bright at Anterix, and I look forward to updating the market on our progress in the quarters ahead.”

Financial and Operational Highlights

Cash and cash equivalents of $43.1 million as of September 30, 2024Received a $7.5 million milestone payment from Ameren CorporationApproximately $168 million of contracted proceeds due to be received with $110 million expected through fiscal 2026Spectrum clearing costs of $5.5 millionApproximately $3 billion pipeline of prospective contract opportunities across 60+ potential customers

Liquidity and Balance Sheet

At September 30, 2024, Anterix had no debt and cash and cash equivalents of $43.1 million. In addition, the Company had a restricted cash balance of $7.6 million in escrow deposits.

The Company has an authorized share repurchase program for up to $250.0 million of the Company’s common stock on or before September 21, 2026. In the fiscal second quarter of 2025, Anterix did not have any share repurchase activity and approximately $234.0 million remains under the current share repurchase program as of September 30, 2024.

Conference Call Information

Anterix senior management will hold an analyst and investor conference call to provide a business update at 9:00 A.M. ET on Thursday November 14, 2024. Interested parties can participate in the call by dialing 1-833-816-1120 and asking the operator to be joined into the Anterix call. International callers should dial 1-412-317-1861. A replay of the call will be accessible on the Investor Relations section of Anterix’s website at https://www.anterix.com/events/.

About Anterix Inc. 

At Anterix, we partner with leading utilities and technology companies to harness the power of 900 MHz broadband for modernized grid solutions. Leading an ecosystem of more than 100 members, we offer utility-first solutions to modernize the grid and solve the challenges that utilities are facing today. As the largest holder of licensed spectrum in the 900 MHz band (896-901/935-940 MHz) throughout the contiguous United States, plus Alaska, Hawaii, and Puerto Rico, we are uniquely positioned to enable private wireless broadband solutions that support cutting-edge advanced communications capabilities for a cleaner, safer, and more secure energy future. To learn more and join the 900 MHz movement, please visit www.anterix.com.

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking statements within the meaning of the federal securities laws that involve risks and uncertainties. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future events or achievements such as statements in this press release related to the Anterix’s business or financial results or outlook. Actual events or results may differ materially from those contemplated in this press release. Forward-looking statements speak only as of the date they are made and readers are cautioned not to put undue reliance on such statements, as they are subject to a number of risks and uncertainties that could cause Anterix’s actual future results to differ materially from results indicated in the forward-looking statement. Such statements are based on assumptions that could cause actual results to differ materially from those in the forward-looking statements, including: (i) the timing of payments under customer agreements, (ii) Anterix’s ability to clear the 900 MHz Broadband Spectrum on a timely basis and on commercially reasonable terms; and (iii) Anterix’s ability to qualify for and timely secure broadband licenses. Actual events or results may differ materially from those contemplated in this press release. Anterix’s filings with the Securities and Exchange Commission (“SEC”), which you may obtain for free at the SEC’s website at http://www.sec.gov, discuss some of the important risk factors that may affect the Company’s financial outlook, business, results of operations and financial condition. Anterix undertakes no obligation to update publicly or revise any forward-looking statements contained herein.

Shareholder Contact 

Natasha Vecchiarelli
Vice President, Investor Relations & Corporate Communications
Anterix
973-531-4397
nvecchiarelli@anterix.com  

Anterix Inc.

Earnings Release Tables

Consolidated Balance Sheets

(in thousands, except share and per share data)

September 30, 2024

March 31, 2024

(Unaudited)

ASSETS

Current assets

Cash and cash equivalents

$                 43,129

$                 60,578

Spectrum receivable

12,063

8,521

Prepaid expenses and other current assets

1,582

3,912

Total current assets

56,774

73,011

Escrow deposits

7,608

7,546

Property and equipment, net

1,726

2,062

Right of use assets, net

4,987

4,432

Intangible assets

221,863

216,743

Deferred broadband costs

23,759

19,772

Other assets

520

1,328

Total assets

$               317,237

$               324,894

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities

Accounts payable and accrued expenses

$                   7,086

$                   8,631

Operating lease liabilities

1,806

1,850

Contingent liability

1,000

1,000

Deferred revenue

5,915

6,470

Total current liabilities

15,807

17,951

Operating lease liabilities

3,845

3,446

Contingent liability

25,000

15,000

Deferred revenue

120,712

115,742

Deferred gain on sale of intangible assets

4,911

4,911

Deferred income tax

7,670

6,281

Other liabilities

229

531

Total liabilities

178,174

163,862

Commitments and contingencies

Stockholders’ equity

Preferred stock, $0.0001 par value per share, 10,000,000 shares authorized and
no shares outstanding at September 30, 2024 and March 31, 2024

Common stock, $0.0001 par value per share, 100,000,000 shares authorized and
18,618,271 shares issued and outstanding at September 30, 2024 and 18,452,892
shares issued and outstanding at March 31, 2024

2

2

Additional paid-in capital

541,551

533,203

Accumulated deficit

(402,490)

(372,173)

Total stockholders’ equity

139,063

161,032

Total liabilities and stockholders’ equity

$               317,237

$               324,894

 

Anterix Inc.

Earnings Release Tables

Consolidated Statements of Operations

(Unaudited, in thousands, except share and per share data)

Three months ended September 30,

Six months ended September 30,

2024

2023

2024

2023

Spectrum revenue

$             1,551

$              1,052

$              3,076

$              1,660

Operating expenses

General and administrative

11,397

11,905

24,248

23,578

Sales and support

1,357

1,310

3,207

2,585

Product development

1,776

1,147

3,526

2,216

Depreciation and amortization

151

209

330

455

Operating expenses

14,681

14,571

31,311

28,834

Gain on disposal of intangible assets, net

(8,513)

(93)

(19,298)

Gain on sale of intangible assets, net

(7,332)

(7,332)

Loss from disposal of long-lived assets, net

67

36

(Loss) gain from operations

(13,130)

2,259

(28,142)

(580)

Interest income

585

396

1,279

782

Other income

9

63

25

158

(Loss) income before income taxes

(12,536)

2,718

(26,838)

360

Income tax expense

230

645

1,452

405

Net (loss) income

$         (12,766)

$              2,073

$          (28,290)

$                 (45)

Net (loss) income per common share basic

$              (0.69)

$                0.11

$              (1.53)

$                   —

Net (loss) income per common share diluted

$              (0.69)

$                0.11

$              (1.53)

$                   —

Weighted-average common shares used to compute
basic net (loss) income per share

18,586,075

18,921,126

18,531,169

18,935,929

Weighted-average common shares used to compute
diluted net (loss) income per share

18,586,075

19,109,394

18,531,169

18,935,929

 

Anterix Inc.

Earnings Release Tables

Consolidated Statements of Cash Flows

(Unaudited, in thousands)

Three months ended September 30,

Six months ended September 30,

2024

2023

2024

2023

CASH FLOWS FROM OPERATING ACTIVITIES

Net loss (income)

$          (12,766)

$              2,073

$          (28,290)

$                 (45)

Adjustments to reconcile net loss to net cash (used in)
provided by operating activities

Depreciation and amortization

151

209

330

455

Stock compensation expense

3,408

3,838

7,754

8,103

Deferred income taxes

332

645

1,389

373

Right of use assets

398

262

832

545

Gain on disposal of intangible assets, net

(8,513)

(93)

(19,298)

Gain on sale of intangible assets, net

(7,332)

(7,332)

Loss from disposal of long-lived assets, net

67

36

Changes in operating assets and liabilities

Prepaid expenses and other assets

551

225

1,525

788

Accounts payable and accrued expenses

21

(795)

(1,537)

374

Due to related parties

(533)

Operating lease liabilities

(501)

(371)

(1,032)

(759)

Contingent liability

10,000

Deferred revenue

5,940

20,114

4,415

19,506

Other liabilities

(182)

(302)

Net cash (used in) provided by operating
activities

(2,648)

10,422

(5,009)

2,213

CASH FLOWS FROM INVESTING ACTIVITIES

Purchases of intangible assets, including refundable
deposits, retuning costs and swaps

(5,504)

(4,907)

(10,904)

(10,077)

Proceeds from sale of spectrum

25,178

25,178

Purchases of equipment

(41)

(187)

(41)

(212)

Net cash (used in) provided by investing
activities

(5,545)

20,084

(10,945)

14,889

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from stock option exercises

343

1,960

7

Repurchases of common stock

(10,735)

(2,027)

(10,735)

Payments of withholding tax on net issuance of
restricted stock

(705)

(270)

(1,366)

(1,022)

Net cash used in financing activities

(362)

(11,005)

(1,433)

(11,750)

Net change in cash and cash equivalents
and restricted cash

(8,555)

19,501

(17,387)

5,352

CASH AND CASH EQUIVALENTS AND
RESTRICTED CASH

Cash and cash equivalents and restricted cash at
beginning of the period

59,292

29,033

68,124

43,182

Cash and cash equivalents and restricted cash at
end of the period

$           50,737

$           48,534

$           50,737

$           48,534

SUPPLEMENTAL DISCLOSURE OF CASH
FLOW INFORMATION

Cash paid during the period:

Taxes paid

$                 885

$                     1

$                 885

$                     1

Operating leases paid

$                 606

$                 578

$              1,199

$              1,152

Non-cash investing activity:

Network equipment provided in exchange for
wireless licenses

$                   —

$                 130

$                   47

$                 568

Deferred gain on sale of intangible assets

$                   —

$              4,889

$                   —

$              4,889

Derecognition of contingent liability related to sale
of intangible assets

$                   —

$            18,840

$                   —

$            18,840

Right of use assets new leases

$                   42

$                   41

$                 290

$                 106

Right of use assets modifications and renewals

$                 850

$                   55

$              1,097

$                   55

The following tables provide a reconciliation of cash and cash equivalents and restricted cash reported on the Consolidated Balance Sheets that sum to the total of the same such amounts on the Consolidated Statements of Cash Flows:

September 30, 2024

June 30, 2024

March 31, 2024

Cash and cash equivalents

$                 43,129

$             51,715

$                 60,578

Escrow deposits

7,608

7,577

7,546

Total cash and cash equivalents and restricted cash

$                 50,737

$             59,292

$                 68,124

September 30, 2023

June 30, 2023

March 31, 2023

Cash and cash equivalents

$                 48,534

$             29,033

$                 43,182

Escrow deposits

Total cash and cash equivalents and restricted cash

$                 48,534

$             29,033

$                 43,182

 

Anterix Inc.

Earnings Release Tables

Other Financial Information

(Unaudited, in thousands except per share data)

Three months ended September 30,

Six months ended September 30,

2024

2023

2024

2023

Number of shares repurchased and retired

333

63

333

Average price paid per share*

$                   —

$              32.69

$              32.47

$              32.69

Total cost to repurchase

$                   —

$           10,735

$              2,027

$           10,735

*

Average price paid per share includes costs associated with the repurchases.

As of September 30, 2024, $234.0 million is remaining under the share repurchase program.

View original content to download multimedia:https://www.prnewswire.com/news-releases/anterix-inc-reports-second-quarter-fiscal-year-2025-results-302304749.html

SOURCE Anterix Inc.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Microland honored with STPI Karnataka IT Export Awards 2023-24

Published

on

By

BENGALURU, India, Nov. 26, 2024 /PRNewswire/ — Microland, India’s leading IT infrastructure services company, has been conferred with the Best Performance in High Growth in Exports – IT/ITES award for its category at the Software Technology Parks of India (STPI) Karnataka IT Export Awards for the year 2023-24. This recognition highlights Microland’s contribution to IT / Electronic Hardware Companies of Karnataka under STPI.

The award ceremony was held on 20th November 2024, as part of the 27th edition of the ‘Bengaluru Tech Summit’ event.

For over two decades, the STPI IT Export Awards have been a symbol of excellence and influence in the tech world, celebrating companies that achieve groundbreaking success in IT and ITES exports. 

Sam Mathew, President, Microland, said, “We are excited to receive the prestigious recognition from STPI. Microland is committed to delivering world-class services to our clients and raising the bar with every milestone we achieve.”

Rajesh Kharidehal, Chief Financial Officer, Microland, added, “It is an honor to receive this award from STPI. At Microland, we constantly strive to deliver value to our stakeholders and this award is validation of the work we are doing for our clients.”

In early August 2024, Microland was awarded the prestigious World Class 5-star rating by the Service Desk Institute (SDI) for the quality of IT service and support operations. Microland is the third company globally and the first company in India to attain this accolade. Microland has also achieved a gold rating from EcoVadis, underscoring its exceptional performance in Environment and Sustainable Procurement, reflecting its commitment to high Environmental, Social, and Governance (ESG) standards.

Earlier this year, Microland achieved certification as a Great Workplace by Great Place To Work® for the second time.

About Microland

Microland is a pioneering IT Infrastructure services and consulting company headquartered in Bengaluru, India, with a proven track record of delivering tangible business outcomes for 35 years. Today, as enterprises recognize that networks underpin the functionality and efficiency of modern digital systems and support innovation, we provide next-generation technologies such as AI, automated operations, and platform-driven solutions – which drive operational excellence, agility, and productivity for organizations worldwide. Our team of over 4,600 experts delivers services in over 100 countries across Asia, Australia, Europe, the Middle East, and North America, offering cutting-edge solutions in networks, cloud, data centers, cybersecurity, services management, applications, and automation. Recognized by leading industry analysts for our innovative strategies, Microland is committed to strong governance, environmental sustainability, and fostering an inclusive workplace where diverse talent thrives. When businesses work with Microland, they connect with the best talent, technologies, and solutions to create unparalleled value.

For more information, visit www.microland.com

Contact: sobia.sahar@microland.com

Logo: https://mma.prnewswire.com/media/2483706/Microland_Logo.jpg

 

View original content:https://www.prnewswire.co.uk/news-releases/microland-honored-with-stpi-karnataka-it-export-awards-2023-24-302315571.html

Continue Reading

Technology

The total mileage of UAV transmission line inspection of State Grid Turfan Power Supply Company exceeded 50,000 kilometers

Published

on

By

TURFAN, China, Nov. 26, 2024 /PRNewswire/ — On November 22, the transmission and operation inspection center of State Grid Turfan Power Supply Company successfully completed the line inspection task of the 110 thousand volt Jiaolang line, marking the company’s 389th unmanned aerial vehicle inspection task in the year. Since 2016, the State Grid Turfan Power Supply Company has actively applied and promoted UAV inspection technology, and has achieved full coverage of UAV transmission line inspection in complex terrain such as mountains, deserts, and Gobi.

The complex and diverse terrain of Turfan, including high mountains, deserts and Gobi, has brought arduous challenges to the inspection of transmission lines. However, through the application of drone technology, the State Grid Turfan Power Supply Company has not only overcome these difficulties, but also achieved remarkable results in the operation and inspection of transmission lines. At the same time, with the intelligent upgrading and digital transformation of power grid equipment and management, UAV technology is widely used in maintenance and hanging, live monitoring, power grid construction and other fields, and the intelligent level of transmission line operation and inspection has been continuously improved. Up to now, the company’s drone inspection has covered 215 transmission lines of 35 thousand volts and above, with a total mileage of more than 50,000 kilometers, which is equivalent to the length of a week around the Earth’s equator.

In the next step, the State Grid Turfan Power Supply Company will continue to expand the application scenarios of UAVs, actively introduce new technologies and equipment, and accelerate the transformation of intelligent operation and inspection mode. The company plans to continuously improve the level of equipment operation and inspection, consolidate the foundation of equipment safety, and ensure the safe and stable operation of the power grid by further optimizing the drone inspection process and improving the data analysis and processing capabilities.

 

View original content:https://www.prnewswire.com/apac/news-releases/the-total-mileage-of-uav-transmission-line-inspection-of-state-grid-turfan-power-supply-company-exceeded-50-000-kilometers-302316063.html

SOURCE State Grid Turfan Power Supply Company

Continue Reading

Technology

MiniTool’s Biggest Discount of the Year During Black Friday and Cyber Monday

Published

on

By

VANCOUVER, BC, Nov. 25, 2024 /PRNewswire/ — MiniTool, a committed software development firm, offers MiniTool Partition Wizard, MiniTool Power Data Recovery, MiniTool ShadowMaker, MiniTool MovieMaker, MiniTool Video Converter, and other products in the 2024 Black Friday and Cyber Monday promotions. From November 25 to December 6, 2024, customers can visit the MiniTool promotion page to purchase products and enjoy big discounts.

Promotions and Activities

Entrance 1: Discounts for MiniTool Partition Wizard, MiniTool Power Data Recovery, and MiniTool ShadowMaker (UP TO 65% OFF)Entrance 2: Discounts for MiniTool MovieMaker and MiniTool Video Converter (UP TO 70% OFF)

MiniTool’s promotion is divided into three forms: lucky draw, combination promotion, and single item promotion.

Lucky Draw: Try your luck to get a discount or coupon for your desired single product. Each user has 5 chances per day during Black Friday sales.Combination Promotion: Or you can directly pick up your favorite bundles with a bigger discount!Single Item Promotion: Enjoy exclusive discounts on individual products!

Best Seller: MiniTool Partition Wizard Pro Ultimate + MiniTool ShadowMaker Pro Ultimate
MiniTool Partition Wizard is a top disk manager with comprehensive partition management features that can meet the basic disk and partition management needs of home and business users. It is available in Pro, Pro Platinum, and Pro Ultimate versions. Of these, the Pro Ultimate version is the best choice.

MiniTool ShadowMaker is a professional backup software based on the Windows system. It can safely back up files, folders, systems, disks, and partitions to internal or external hard drives.

MiniTool Partition Wizard Pro Ultimate and MiniTool ShadowMaker Pro Ultimate are originally priced at $199 and $158, respectively. During MiniTool’s Black Friday promotion, customers can buy these two products for ONLY $160.65 (55% OFF).

Double Protection of Data: MiniTool Power Data Recovery Personal Ultimate + MiniTool ShadowMaker Pro Ultimate
MiniTool Power Data Recovery is the best data recovery software for Windows users. It can successfully recover accidentally deleted files as well as files lost due to system crashes or virus attacks. Windows users can use MiniTool Power Data Recovery to recover data from internal storage, as well as external drives (such as HDD, SSD, USB, SD card, etc.).

MiniTool ShadowMaker can set up backup items regularly to properly protect your data and computer. It is the best choice for Windows users to back up files, hard drives, systems, etc.

MiniTool Power Data Recovery Personal Ultimate and MiniTool ShadowMaker Pro Ultimate charge $129 and $158 respectively. Now with a discount of 60% OFF, you ONLY NEED to PAY $114.80 for them.

65% OFF: MiniTool Partition Wizard Pro Platinum + MiniTool Power Data Recovery Personal Annual Subscription + MiniTool ShadowMaker Pro Annual Subscription
MiniTool Partition Wizard Pro Platinum offers all the features of the software, plus one year of free upgrades. It can be used on three devices after purchase. MiniTool Power Data Recovery Personal Annual Subscription offers all the functions of MiniTool data recovery software and a one-year free upgrade. MiniTool ShadowMaker Pro Annual Subscription allows use on two devices, plus one year of free updates.

The original prices of these three products are $129, $89, and $120 respectively. During the Black Friday promotion, you can get them all with ONLY $118.30 (65% OFF).

70% OFF: MiniTool MovieMaker Annual Subscription + MiniTool Video Converter 12-Month Subscription
MiniTool MovieMaker is the best choice for creating and editing videos. It supports adding transitions, special effects, and text to a video. Even beginners can make stunning videos with templates in MiniTool MovieMaker.

MiniTool Video Converter can convert audio and video into more than 1,000 formats. Its batch conversion function makes conversion more efficient. In addition, MiniTool Video Converter allows the recording of partial or full-screen activities without background noise.

The regular price of MiniTool MovieMaker Annual Subscription is $59.99, and the regular price of MiniTool Video Converter 12-Month Subscription is $119.99. During Black Friday, enjoy both of them for a whole year for ONLY $53.99, SAVING 70%!

For more product details, please visit the two promotion pages mentioned above.

About MiniTool® Software Ltd.
MiniTool® Software Ltd. is a software development company based in Canada. It is committed to providing customers with the most useful applications, such as MiniTool Power Data Recovery, MiniTool Partition Wizard, MiniTool ShadowMaker, MiniTool System Booster, MiniTool MovieMaker, and MiniTool Video Converter.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/minitools-biggest-discount-of-the-year-during-black-friday-and-cyber-monday-302316069.html

SOURCE MiniTool Software Limited

Continue Reading

Trending